Pandemic, increased claims affect London P&I Club’s performance

U.K.-based marine insurer The London P&I Club reported $20.3 million in overall operating deficit and a combined ratio of 136.8% in the year ended Feb. 20, due to the COVID-19 pandemic and increased claims, Hellenic Shipping New Worldwide reported. The insurer reported higher claims on the International Group pooling system. It notes that the claims costs have almost doubled over the last five years.  

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